Mutual of America Capital Management LLC Has $26.33 Million Position in Accenture plc (NYSE:ACN)

Mutual of America Capital Management LLC cut its position in shares of Accenture plc (NYSE:ACN) by 3.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 74,845 shares of the information technology services provider’s stock after selling 2,278 shares during the period. Mutual of America Capital Management LLC’s holdings in Accenture were worth $26,330,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of ACN. BSW Wealth Partners raised its position in shares of Accenture by 0.7% during the third quarter. BSW Wealth Partners now owns 4,077 shares of the information technology services provider’s stock worth $1,441,000 after acquiring an additional 28 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its holdings in Accenture by 5.7% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 518 shares of the information technology services provider’s stock valued at $182,000 after acquiring an additional 28 shares during the last quarter. FPC Investment Advisory Inc. increased its position in Accenture by 62.2% during the 4th quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock valued at $28,000 after purchasing an additional 28 shares during the period. Tradition Wealth Management LLC lifted its position in shares of Accenture by 0.3% in the 3rd quarter. Tradition Wealth Management LLC now owns 10,951 shares of the information technology services provider’s stock worth $3,871,000 after purchasing an additional 29 shares during the period. Finally, New England Professional Planning Group Inc. boosted its stake in shares of Accenture by 4.6% in the 4th quarter. New England Professional Planning Group Inc. now owns 655 shares of the information technology services provider’s stock valued at $230,000 after purchasing an additional 29 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ACN. Jefferies Financial Group lowered their target price on shares of Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Piper Sandler raised their price target on shares of Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. upped their price objective on shares of Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a report on Monday, December 16th. StockNews.com upgraded Accenture from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. Finally, The Goldman Sachs Group upgraded Accenture from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $370.00 to $420.00 in a report on Friday, December 6th. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Accenture presently has a consensus rating of “Moderate Buy” and an average price target of $388.96.

Accenture Price Performance

Shares of NYSE:ACN opened at $348.28 on Friday. The company has a 50-day moving average price of $367.28 and a two-hundred day moving average price of $357.56. Accenture plc has a twelve month low of $278.69 and a twelve month high of $398.35. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $217.95 billion, a PE ratio of 29.22, a P/E/G ratio of 3.23 and a beta of 1.24.

Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, topping the consensus estimate of $3.43 by $0.16. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The company had revenue of $17.69 billion during the quarter, compared to the consensus estimate of $17.15 billion. During the same period last year, the firm earned $3.27 EPS. Accenture’s revenue for the quarter was up 9.0% on a year-over-year basis. Equities analysts forecast that Accenture plc will post 12.73 EPS for the current year.

Insider Activity at Accenture

In related news, CEO Julie Spellman Sweet sold 8,793 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the sale, the chief executive officer now owns 11,858 shares of the company’s stock, valued at approximately $4,677,625.26. This represents a 42.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Melissa A. Burgum sold 1,487 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $354.54, for a total transaction of $527,200.98. Following the completion of the transaction, the chief accounting officer now directly owns 9,247 shares of the company’s stock, valued at approximately $3,278,431.38. The trade was a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,280 shares of company stock worth $8,316,190. 0.02% of the stock is owned by company insiders.

About Accenture

Accenture plc, a professional services company, provides strategy and consulting, industry X, song, and technology and operation services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management; intelligent automation comprising robotic process automation, natural language processing, and virtual agents; and application management services, as well as software engineering services; strategy and consulting services; data and analytics strategy, data discovery and augmentation, data management and beyond, data democratization, and industrialized solutions comprising turnkey analytics and artificial intelligence (AI) solutions; metaverse; and sustainability services.